The trade deficit in the US narrowed to a four-month low of $87.1 billion in April of 2022 from a record of $107.7 billion in March and below market forecasts of a $89.5 billion gap. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas, other petroleum products, soybeans, civilian aircraft, travel and transport. Imports declined 3.4% to $339.7 billion, due to lower purchases of textile apparel and household goods, toys, games, and sporting goods, pharmaceutical preparations, industrial supplies and materials, finished metal shapes, capital goods, computers. The deficit with China decreased $8.5 billion to $34.9 billion, with imports falling by $10.1 billion, the most in seven years as China was under a covid lockdown. The shortfall with Mexico widened $1.7 billion to $11.5 billion. The gap with Russia continued to narrow to $2 billion from $2.6 billion. source: Bureau of Economic Analysis (BEA)
Balance of Trade in the United States averaged -16630.65 USD Million from 1950 until 2022, reaching an all time high of 1946 USD Million in June of 1975 and a record low of -107651 USD Million in March of 2022. This page provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Balance of Trade in the United States is expected to be -85000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Balance of Trade is projected to trend around -51000.00 USD Million in 2023 and -55000.00 USD Million in 2024, according to our econometric models.